Why do 95- 98% of retail traders fail

This is a discussion on Why do 95- 98% of retail traders fail within the Indices forums, part of the Markets category; I will tell you a little gossip.I found the most interesting thing I encountered with trading. Several years ago I ...

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Old Jun 11, 2017, 3:48pm   #25
 
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I will tell you a little gossip.I found the most interesting thing I encountered with trading.

Several years ago I was considering using pro spreads as a broker.

Prospreads had a seminar of how to use there platform and products in London.It was at bloomberg.

I attended. They had technical problems there,so they decided to take a taxis back to por spreads office to continue. We all took taxis, by luck I was in the same taxi as the CEO of prospreads. So I was curious to ask him how successful traders were there. He said at pro spreads you have more pros but still most lose ,he did not give any number. Now this is the interesting part.He said the biggest account they had was a guy with 27 million pound. But he mentioned the best trader he had ever seen. It was this guy that deposited 50 K. In 8 months he turned it to 950K. He said he was remarkable. He had more losing trades than winners,trading hundreds trades per day. I asked him was it luck? The look in his face,told it all. He said no,this guy was a machine,best trader he had seen ever at pro spreads. The funny thing is once he got to 950K he withdrew the funds,he did not go for the million ( you would of thought he would) and he never heard from him again. This is why forums can be dangerous. people parrot information. The notion that its impossible to make over 20 % per year from trading is impossible,for example is common. Electronic trading has made this a lot easier,and in terms of history of trading,its fairly new tool for day traders.
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Old Jun 11, 2017, 5:36pm   #26
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Originally Posted by goose4 View Post
I will tell you a little gossip.I found the most interesting thing I encountered with trading.

Several years ago I was considering using pro spreads as a broker.

Prospreads had a seminar of how to use there platform and products in London.It was at bloomberg.

I attended. They had technical problems there,so they decided to take a taxis back to por spreads office to continue. We all took taxis, by luck I was in the same taxi as the CEO of prospreads. So I was curious to ask him how successful traders were there. He said at pro spreads you have more pros but still most lose ,he did not give any number. Now this is the interesting part.He said the biggest account they had was a guy with 27 million pound. But he mentioned the best trader he had ever seen. It was this guy that deposited 50 K. In 8 months he turned it to 950K. He said he was remarkable. He had more losing trades than winners,trading hundreds trades per day. I asked him was it luck? The look in his face,told it all. He said no,this guy was a machine,best trader he had seen ever at pro spreads. The funny thing is once he got to 950K he withdrew the funds,he did not go for the million ( you would of thought he would) and he never heard from him again. This is why forums can be dangerous. people parrot information. The notion that its impossible to make over 20 % per year from trading is impossible,for example is common. Electronic trading has made this a lot easier,and in terms of history of trading,its fairly new tool for day traders.
Indeed a very good customer , who paid a lot of spreads and rebates , they were all making a killing by him overtrading.
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Old Jun 11, 2017, 6:44pm   #27
 
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Originally Posted by goose4 View Post
I will tell you a little gossip.I found the most interesting thing I encountered with trading.

Several years ago I was considering using pro spreads as a broker.

Prospreads had a seminar of how to use there platform and products in London.It was at bloomberg.

I attended. They had technical problems there,so they decided to take a taxis back to por spreads office to continue. We all took taxis, by luck I was in the same taxi as the CEO of prospreads. So I was curious to ask him how successful traders were there. He said at pro spreads you have more pros but still most lose ,he did not give any number. Now this is the interesting part.He said the biggest account they had was a guy with 27 million pound. But he mentioned the best trader he had ever seen. It was this guy that deposited 50 K. In 8 months he turned it to 950K. He said he was remarkable. He had more losing trades than winners,trading hundreds trades per day. I asked him was it luck? The look in his face,told it all. He said no,this guy was a machine,best trader he had seen ever at pro spreads. The funny thing is once he got to 950K he withdrew the funds,he did not go for the million ( you would of thought he would) and he never heard from him again. This is why forums can be dangerous. people parrot information. The notion that its impossible to make over 20 % per year from trading is impossible,for example is common. Electronic trading has made this a lot easier,and in terms of history of trading,its fairly new tool for day traders.
It took me 5 years to make that first £50k though!
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Old Jun 11, 2017, 7:59pm   #28
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It took me 5 years to make that first £50k though!
then how u end up with £300 only?
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Old Jun 11, 2017, 8:04pm   #29
 
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then how u end up with £300 only?
Are you naturally stupid or do you have to work at it?
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Old Jun 11, 2017, 8:05pm   #30
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90% is money in the bank for the successful traders.

I dont know why people find these topics so interesting.

With betfair I read only 3% are pro.......

I like these figures its a healthy sign of the ethos.
Now you speak
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Old Jun 11, 2017, 8:07pm   #31
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Are you naturally stupid or do you have to work at it?
Call me dumb or dumber than stupid , I won't tell when milkman bangs yohho woife!
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Old Jun 11, 2017, 9:07pm   #32
 
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Call me dumb or dumber than stupid , I won't tell when milkman bangs yohho woife!
Maybe its me but I dont understand 95% of the things you post. 1,459 posts since April and most just say "Search google for ...", or they are cut and pastes from other peoples posts.

Also there is a saying that goes along the lines of "If everyone thinks your an idiot, then 'you are' an idiot".
"i haven't mentioned anything about map reading dummy"
http://www.trade2win.com/boards/educ...ml#post2916664
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